MY VIEW ON SILVER - STILL BEARISH TO ME - LOOKS TO BE IN 2618 FORMATION WHICH COULD SEE US COMPLETE THIS CORRECTIVE STRUCTURE. CURRENTLY OUT OF THE CONSOLIDATION AFTER A GOOD POWERFUL MOVEMENT ON FRIDAY BUT WILL BE LOOKING TO LONG THE BREAKOUT AROUND THE SUPPORT AREA 18.000
Reasons To Go Short silver Below 18.950. Bearish Flag Strong Continuation Pattern Market Is In Bearish Momentum Major Resistance At Top Sideways Consolidation Institutional Seller Orders Standing Below 950 Level An Impulse To Downward Side U Should Trade The Next Impulse to Downside For Profits Best Of Luck!!! ...
Silver has begun to complete its correction after obtaining the high post BREXIT. Similar to gold, silver is currently in a bearish trend. We have broken technical trend resistance some 5 days ago, but silver has been hanging around a little bit with gold as the bulls take their time to lose confidence. Also similar to gold, we are long term very bullish, but...
Silver was in a corrective 4th wave triangle and it just finished today. The 5th wave should take us up all the way to around 22.100 . If you want to be on the safer side, wait till silver breaks the upper side of the triangle then place your trade. Buy 19.670 SL 19.472 TP 22.100 Good Luck
Based on previous structure, and unchanged fundamentals, I am going long on silver for the next week. TP = 20.4 SL = 19.4 R/W Ratio = 1.87 Sharing my view :)
The SOLID GREEN LINE will provide a historical support for SILVER. But also if you see the SOLID BALCK LINE around $30 may act as a resistance line. Also the DOTTED GREEN AND RED line is a possible channel trading in coming days/months. Silver is a overall BUY for next few months.
DXY finished wave 2 and started wave 3 targeting 98.5. I will update the chart when needed.
A POTENTIAL PRICE TRAIL FOR SILVER IN THE UPCOMING MONTHS, LOOKING TO ACCUMULATE A LONG POSITION WITHIN AUGUST/JULY FOR NEXT LEG UP
Check the chart for my analysis. Go ahead and check the chart.
Gold has been on the rise for the past six months, leading to some recent speculation by traders and economists that it may be due for a pullback. We are not "gold bugs" here at The Gartman Letter. We do not believe that Western culture is doomed to fail. We are not of the mindset that the world is coming to some inglorious end; indeed, we are not even certain...
Don't short! Buy gold!
XAGUSD finished wave (B) last week and seeks lower levels.
Shorting Silver almost ready to give up depending on how US plays next week i expect USD to bounce back and Silver to drop. good luck hope this helps lets make money!